Mosaic Financial Group LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mosaic Financial Group LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,639 shares of the information services provider’s stock after selling 60 shares during the period. Alphabet comprises about 1.3% of Mosaic Financial Group LLC’s investment portfolio, making the stock its 18th largest position. Mosaic Financial Group LLC’s holdings in Alphabet were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Lantz Financial LLC increased its position in Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after buying an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC purchased a new stake in shares of Alphabet in the second quarter worth $218,000. Maia Wealth LLC bought a new position in shares of Alphabet during the second quarter valued at $5,474,000. Diversified Trust Co raised its position in shares of Alphabet by 23.7% in the 2nd quarter. Diversified Trust Co now owns 241,932 shares of the information services provider’s stock worth $44,068,000 after purchasing an additional 46,338 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in Alphabet by 1.3% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 60,629 shares of the information services provider’s stock worth $11,044,000 after purchasing an additional 790 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now owns 43,999 shares in the company, valued at $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock valued at $34,413,006 in the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $189.82 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. The business has a 50-day moving average price of $171.63 and a 200-day moving average price of $170.63. The firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOGL shares. JMP Securities lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday. Bank of America increased their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Tigress Financial increased their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $206.08.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.